Alliance for Cyber Risk Governance Conference Establishes Community to Develop New Framework

Inaugural conference highlights the gaps in risk measurement and reporting reaffirming need for a more pragmatic framework

NEW YORK, Nov. 27, 2017 (GLOBE NEWSWIRE) -- The Alliance for Cyber Risk Governance (ACRG) kicked off its risk framework initiative at its inaugural conference. Bringing together companies and executives across the cybersecurity and risk management industries, the alliance created a new community to accelerate the framework’s development and broad adoption.

Executives from alliance members TechDemocracy, RiskIQ, Rackspace, LogRhythm, Rapid7, BeyondTrust, Fidelis Cybersecurity and SAFE-BioPharma shed light on the risk measurement challenges facing boards and their management teams. The attendees committed to bringing standardization to risk measurement and reporting to help companies eliminate the complexities with risk communications across organizations.

Companies are experiencing increased difficulty with risk management due to inconsistencies in reporting and information sharing among business units. Paired with exponential growth in customers, applications and data straining the network, the ability to understand the risks and their impact to the business is fatiguing.

The conference sessions examined these challenges and recommended the key components needed to create a more pragmatic framework to measure, utilize and convey risk metrics.

The Alliance plans to establish four working groups responsible for expanding on the initial recommendations and gathering input from the broader cybersecurity and risk management community to apply to the new framework.

For more information on joining the ACRG community and participating in a working group, click here.

“The conference was a starting point. The more exciting work lies ahead as we collaborate with more organizations, cyber and risk management professionals to create a pragmatic framework reflective of industry best practices and expert insights,” said Gautam Dev, global managing principal, founding leader, CRSG, TechDemocracy, LLC. “This is not just another standard (NJAS). This framework will help companies formulate their problem statement, measure risk and translate it into actions.”

“The conference offered attendees a great platform to speak openly about the significant risk measurement challenges organizations face. It reaffirmed why we need to bring this new framework to fruition sooner rather than later,” said Mark Goebel, vice president of cybersecurity and cloud program management, COLOTRAQ. “It will also serve as an invaluable translation layer for organizing and measuring risk data associated with other industry standards and regulations companies need to track. I encourage any cyber and risk management professional looking to bring real change to risk measurement to get involved in this effort.” 

About the Alliance for Cyber Risk Governance
The Alliance for Cyber Risk Governance is a not-for-profit industry association dedicated to bringing standardization to measuring, reporting and governing risk. The Alliance is a proponent of holistic cyber risk management enabling companies to establish risk management frameworks that can align to global regulatory and industry standards. Alliance members include TechDemocracy, LLC; RiskIQ; Rackspace; LogRhythm; Rapid7; BeyondTrust; Fidelis Cybersecurity; and SAFE-BioPharma.

Deb Montner
Montner Tech PR